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What will you learn about?

  • The provincial securities commissions’ registration requirements for a branch manager or branch compliance officer of a mutual fund dealer operating within a branch of a financial institution
  • The business practices and relevant legislation for operating a branch
  • How to establish guidelines for sales representatives to adhere to regulatory requirements and in-house materials of the mutual fund dealer
  • How to ensure that sales representatives respect the disclosure requirements to clients
  • The requirements for reviewing orders for proper documentation, improper sales techniques, and leveraged purchases
  • How branch managers implement branch-level internal controls and procedures

What is the course syllabus?

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Chapter 1 - The Role of a Branch Compliance Officer

Topics covered in this chapter are:

  • The Branch Compliance Officer’s Role
  • Physical Structure of the Branch
  • The Relationship with the Head Office and Regional Compliance Officer
  • Staff Training

Chapter 2 - Mutual Fund Industry Regulation

Topics covered in this chapter are:

  • Securities Regulation
  • Provincial and Territorial Securities Acts
  • The Canadian Securities Administrators
  • Self-Regulatory Organizations
  • Anti-Money Laundering and Anti-Terrorist Financing Laws
  • Purchasers’ Statutory Rights
  • The Standards of Conduct
  • Client Focused Reforms
  • Rules for Telemarketing and the National Do Not Call List (DNCL)

Chapter 3 - Registration Requirements

Topics covered in this chapter are:

  • Sales Representatives Registration Process
  • Qualification and Registration of Sales Representatives
  • Specific Restrictions on Sales Representatives
  • Investment Industry Registration Categories
  • Post-Registration Requirements
  • Post-Registration Reporting and Compliance Responsibilities
  • Continuing Education for Sales Representatives
  • Monitoring Sales Representatives

Chapter 4 - Account Opening

Topics covered in this chapter are:

  • Before Opening an Account
  • The Client and the Sales Representative Relationship
  • Account Opening and Order Forms
  • Completing the Account Opening Form
  • Know Your Client Information
  • Accounts Types
  • Account Protection
  • Anti-Money Laundering and Anti-Terrorist Requirements
  • Foreign Account Tax Compliance Act
  • Powers of Attorney
  • Internal Control Systems and Procedures
  • Updating Client Information

Chapter 5 - Disclosure Requirements

Topics covered in this chapter are:

  • Disclosure Requirements at Branch Level
  • Fund Facts and Other Documents to Deliver
  • Additional Disclosure Requirements
  • The Required Form of Disclosure
  • Maintaining Evidence that Disclosures Have Been Provided

Chapter 6 - Suitability Requirements

Topics covered in this chapter are:

  • Suitability
  • Suitable Investments
  • Solicited and Unsolicited Orders
  • The Use of Leverage
  • Suitability and Reasonableness

Chapter 7 - Mutual Funds Performance Evaluation

Topics covered in this chapter are:

  • Price or NAVPU Determination
  • Taxation of Mutual Fund Income
  • Performance Measurement
  • Effect of Payment of Distributions on Client’s Account

Chapter 8 - Dealing with Complaints

Topics covered in this chapter are:

  • Client Complaints
  • Reporting a Client Complaint
  • More Serious Complaints
  • Complaint Resolution
  • Problem Clients

Chapter 9 - Sales Representative Supervision

Topics covered in this chapter are:

  • Supervising the relationship between the client and the sales representative
  • Confidentiality
  • Mutual Funds Performance Communications
  • Describing Fees and Loads
  • Supervising the Rates of Return communications to Clients
  • Client Account Performance Reporting
  • Unacceptable Sales Practices
  • Non-Registered Sales Staff Prohibited Activities
  • Registered Sales Staff Prohibited Activities
  • Orders Supervision
  • Sales Practices supervision
  • Disclosure of Conflicts of Interest

Chapter 10 - Supervisory and Control Systems

Topics covered in this chapter are:

  • Control System to Ensure Registration of Sales Representatives
  • Control System for Disclosure
  • Control System for Leverage Disclosure
  • Control System for Ensuring New Client Information is Complete and Accurate
  • Reporting and Compliance with Respect to Client Account Information
  • Control System for Periodically Updating Client Information
  • Standards of Supervision
  • The Internal Branch Sales Checklist
  • Business and Ethical Responsibilities Checklist

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Textbook readings available in PDF, e-book and printed format
  • Course materials accessed through your computer, laptop, tablet, or phone, or by downloading the e-book for offline reading
  • Learning objectives that help you to keep the learning focused
  • Regular course updates to ensure that the learning material reflects the most current and best practical material
  • Online activities that include review questions for each chapter and section quizzes to help you assess your progress
  • Assistance by email from CSI’s academic support specialists

Course Completion, Wall Certificate and Digital Badge

Upon successfully completing this course, you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.

You can also accept a digital badge through your student profile after successful course completion. Digital badges are portable image files that allow you to share your credentials across the web. You can post them to your email signature, personal website, social media channels—even to electronic copies of your resume.

CSI will mail you a wall certificate within 4 – 6 weeks of course completion. Frames to display your certificate are available. Please ensure that your First and Last Name on your profile matches your First and Last Name on your Government Issued Photo identification – this will ensure you receive an accurate certificate.

CSI will be pleased to issue an Honours Certificate to all students who obtain a final course mark of 85% or higher.

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